PUBLISHER: Market Research Future | PRODUCT CODE: 1545615
PUBLISHER: Market Research Future | PRODUCT CODE: 1545615
Global HVAC Refrigerant Recovery System Market Research Report Information by Power Range (Low-Pressure Units (0.1HP to 0.75HP), Medium-Pressure Units (0.75HP to 3HP) and High-Pressure Units (More Than 3HP)), by Method (Liquid Recovery, Vapor Recovery, and Pull Recovery), by Material Type (Mild steel, and Copper), by Installation Type (Portable, and Onsite Refrigerant Recovery System), by Equipment (Evacuation / Recovery Tools, Refrigerant Manifold Sets, Hoses, Couplers, Refrigerant Recovery Storage Cylinders & Accessories, Scales & Charging Meters, A/C-R Vacuum Pumps & Accessories, Vacuum Gauges & Meters), by End Use (Industrial and Commercial), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) -Forecast Till 2032
The HVAC Refrigerant Recovery System market is expected to expand at a compound annual growth rate (CAGR) of 9.2% over the course of the forecast period, from USD 1,513.2 million in 2024 to USD 3,070.90 million by 2032. The HVAC Refrigerant Recovery System Market is being driven by rising demand for refrigerant recovery equipment, increasing product innovation and flavor diversity, and rising HVAC usage globally.
The HVAC (Heating, Ventilation, and Air Conditioning) sector is leading the charge in addressing environmental issues and lowering carbon emissions. The control of refrigerants, which are essential to HVAC system operation, is at the heart of this endeavor. On the other hand, more oversight and regulation have resulted from the effects of some refrigerants on the environment, notably those with a high Global Warming Potential (GWP). The HVAC sector has seen a noticeable increase in demand for refrigerant recovery equipment as a result. We shall examine the main causes of this rising demand in this post. Globally, environmental rules are getting stricter, and because the HVAC sector contributes significantly to greenhouse gas emissions, there is special attention on it. It has been determined that refrigerants such as hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs) are significant causes of global warming. Governments and regulatory agencies have therefore put tight regulations in place to lower their emissions. Equipment for recovering refrigerant is essential to adhering to these rules. It makes it possible for HVAC specialists to remove, recycle, or securely collect refrigerants during system decommissioning, maintenance, and servicing. This lowers a company's carbon footprint while also assisting them in complying with environmental regulations. In an effort to lessen climate change, numerous nations have started the phaseout of high-GWP refrigerants. The goal of these initiatives is to switch to lower-GWP, more ecologically friendly alternatives. Refrigerant recovery equipment is in high demand as a result.
Insights on Market Segments
The HVAC Refrigerant Recovery System is divided into three categories based on power range: low-pressure units (0.1 HP to 0.75 HP), medium-pressure units (0.75 HP to 3 HP), and high-pressure units (More Than 3 HP). Pull recovery, vapor recovery, and liquid recovery are all included in the market's technique section.
The global HVAC Refrigerant Recovery System is divided into mild steel and copper categories based on the type of material used.
The market is divided into two segments based on the type of installation: onsite and portable refrigerant recovery systems.
The global HVAC Refrigerant Recovery System is divided into several equipment categories, including vacuum gauges and meters, A/C-R vacuum pumps and accessories, vacuum gauges and meters, hoses, couplers, refrigerant manifold sets, scales, and charging meters.
The market is divided into industrial and commercial segments based on the final usage.
Regional Perspectives
The HVAC Refrigerant Recovery System Market in Asia-Pacific held the biggest market share in 2022 and is anticipated to increase at a substantial compound annual growth rate (CAGR) throughout the course of the study. The market for HVAC refrigerant recovery systems is expanding rapidly in the Asia-Pacific area, mainly due to rising industrialization, urbanization, and demand for air conditioning and refrigeration in nations like China, India, and Southeast Asia.
Furthermore, in terms of HVAC refrigerant recovery system market share, North America is the second-largest area. The developed HVAC sector in the area, which includes the commercial, industrial, and residential domains, augments the need for sophisticated refrigerant recovery methods.
In addition, the market for HVAC refrigerant recovery systems in Europe has expanded rapidly in recent times. The adoption of sophisticated refrigerant recovery technologies has accelerated due to the European Union's F-Gas Regulation, which aims to decrease the usage of high-GWP refrigerants. In Europe, HVAC experts are becoming more and more concerned with cutting greenhouse gas emissions, improving system efficiency, and managing refrigerants responsibly.
Reftec International Systems LLC, REFCO Manufacturing Ltd., APPION, RITCHIE ENGINEERING INC., JB Industries, INFICON, YAO CHUAN ENTERPRISE CO LTD, CPS PRODUCTS INC., and FIELDPIECE INSTRUMENTS INC. are some of the leading companies in the market.